Employee turnover is a part of every organization, but that doesn’t mean it’s an easy one. It often feels incredibly personal, especially when you’re losing a key employee you’ve depended on. Instead of viewing it as a personal affront, you should see it as an opportunity for your employee to continue reaching towards their goals and growing in their profession. It can also be a benefit for your company, as not every employee is a good one, and some may be actively hurting the culture and performance of others.
Reducing the churn rate in your company depends entirely on creating an organization that people enjoy working in and surrounding them with people that are pleasant to work with. Create an environment where your employees feel supported in working to achieve their goals. Valuing your employees is the crucial step for reducing turnover in your organization. If your company is experiencing a time of high turn over, here are three actions you should take.
Identify the cause
If you want to lower your churn rate, you first need to determine why people are leaving your company. Have the human resources department conduct exit interviews with departing employees and encourage them to be honest about why they’re leaving. A common reason people exit a company is that they have a poor relationship with their manager. It may also be because of low pay or lack of direction in the role. Whatever the reason, knowing what the problem is means you can take the proper steps to remedy it.
Let employees in on success
High turnover also affects the people working for your company. Seeing people leaving makes them feel as though everyone else knows something they don’t and makes them consider themselves. To stop this, keep everyone looped in on successes of the business. Next time a big deal closes or someone saves an account from dropping, make sure the whole team knows about it. This will help your employees to see that the business is still thriving and successful and that their efforts are noticed and appreciated.
Create a business operations plan
In times of high employee turnover, your organization will need a business operations plan. The plan should outline how the company’s essential operations should be executed, all of the jobs in your organization and the essential duties of each. Having this plan will help you to fill vacancies faster and also determine if any current positions can be condensed when churn is high.